This study analyses the importance of cognitive and non-cognitive characteristics in financial behaviors and financial literacy. To do so, we carry out a comprehensive review of empirical literature that has tried to analyze the effects of each of these variables. Two primary conclusions are...

In this paper, we examine the effect of financial literacy on financial well-being. Using a panel data set of Dutch households over 2011-2020, we find that initial (2011) financial literacy positively impacts future wealth accumulation and income generation. We further document that initial...

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We conduct the first nationally representative measurement of the financial capability of 15-year-old students in Greece. We find discrepancies between the core, the islands, and the periphery of the country. Female students score lower in terms of all knowledge, behaviour, and attitudes....

Financial education is often held up as a solution to negative financial behaviors, in large part due to the correlations among lower levels of financial knowledge, fewer savings behaviors, and higher rates of credit problems. Studies evaluating financial education are often plagued by...

Unpaid credit card debt can be problematic; people should avoid it where possible. Unlike prior studies, this paper examines the relative strength of the association of financial literacy, attitude towards balancing spending and savings, and financial satisfaction with credit card debt-taking...

This study examines the demographic and socioeconomic factors explaining financial literacy in Japan by decomposing financial literacy into financial knowledge, attitude, and behavior, which provides a deeper understanding of the relationships. We used a large dataset from a national survey...

In this piece of research, we inspect the influence of individual financial knowledge and financial behavior on the probability of experiencing financial distress. Using the 2015 National Financial Capability Study, we examine three measures of financial distress related to bill payment,...

The purpose of this paper is to describe a study that was designed to determine to what extent subjective and objective measures of financial knowledge moderate the relationship between an investor’s financial risk tolerance and demographic factors thought to be important descriptors of an...

In this paper, we study the relationship between financial literacy and self-employment. We use established financial knowledge-based questions to measure financial literacy levels. The analysis shows a highly significant correlation between self-employment and financial literacy scores. To...